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Saskatchewan - Real Growth. Real Opportunity.

Who can borrow from MFC?

Municipal governments, school divisions and health districts can borrow from MFC.

What are the benefits of borrowing from MFC?

MFC allows local authorities to minimize interest costs by offering extremely competitive interest rates and the ability to repay debt prior to maturity. In addition, MFC offers very flexible borrowing terms that can be customized to meet the needs of the project being financed.

What is the process for borrowing from MFC?

Before borrowing from MFC, local authorities require the approval of the Local Government Committee of the Saskatchewan Municipal Board.

After approval from the Local Government Committee of the Saskatchewan Municipal Board has been received, the following steps occur:

The local authority should contact MFC and request an “Application to Sell Debentures”.
MFC reviews the completed application, and notifies the local authority of MFC’s willingness to purchase its debentures, and the interest rate that MFC will charge. The local authority has a two week period to withdraw from the transaction.
The local authority works with the Saskatchewan Municipal Board to print a debenture.
The debenture is forwarded to MFC, and the local authority receives the proceeds of the loan.

Can loans from MFC be repaid prior to maturity?

Yes. Review our Prepayment Policy for details.

What interest rate does MFC charge?

MFC’s interest rates depend on the term of the debenture and current interest rate levels. The interest rate is the sum of:

the Province of Saskatchewan’s cost of borrowing; plus
a small amount to cover MFC’s administrative costs.

How do I contact someone at MFC?

MFC's address is:

Municipal Financing Corporation of Saskatchewan (MFC)
6th Floor, 2350 Albert Street, Regina, SK S4P4A6
Phone: (306) 787-8150
http://www.gov.sk.ca/mfc/
email: mfc@finance.gov.sk.ca